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Citigroup struck down in battle between hedge funds, Argentina
Ruling also leave Argentina with limited options to raise money from banks
Published Wed, Mar 18, 2015 · 09:50 PM
New York
THE nasty battle between Argentina and a group of New York hedge funds has claimed another victim: Citigroup.
The bank said on Tuesday that it would shut its custody business in Argentina after a federal judge in New York last week rejected its request to lift an order that prevented the bank from making interest payments to investors holding US$2.3 billion in Argentine notes.
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